In Washington, D.C., Senator Tim Scott (R-S.C.), the Ranking Member of the Senate Banking Committee, is leading a group of Republican senators in expressing concerns over the Biden administration's enforcement of sanctions on Iran's oil sector. The group sent a letter to U.S. Secretary of the Treasury Janet Yellen, urging the department to use all available tools to monitor and sanction illicit oil transactions involving Iran.

The letter was co-signed by several Republican senators from the Banking Committee, including Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.), and Steve Daines (R-Mont.).

In their communication, the senators emphasized that "Congress has consistently identified Iran's oil sector as a critical area for sanctions due to its significant role in financing destabilizing regional terrorism and nuclear development." They expressed concern about delays in implementing the SHIP Act and called for increased enforcement of existing sanctions.

The letter also highlighted recent actions taken by the administration, noting that "the recent determination on October 11th to expand Executive Order 13902 to persons supporting Iran’s petroleum or petrochemical sectors and the subsequent action on December 3rd are encouraging steps." However, they stressed that rigorous enforcement must continue. The senators pointed out issues with certain nations in Southeast Asia allegedly disregarding U.S. sanctions by selling Iranian crude oil to China.

To address these concerns, they urged the Treasury Department to deploy all available enforcement tools and fully engage in monitoring and sanctioning illicit oil transactions involving Iran. The letter concluded with a request for specific information from the Treasury Department by December 20, 2024.

Senator Scott has been actively overseeing funds flowing to Iran and its affiliates since an attack on Israel by Hamas on October 7, 2023.